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Govt plans to revive jute & cotton mills in West Bengal
13
Aug '08
The Central Government has plans to form a jute board by merging Jute Manufacturing Development Council (JMDC) and National Centers for Jute Diversification (NCJD).

The plan was revealed by Mr Shankersinh Vaghela to the media after unveiling a booklet 'Indian Textiles – The Sunrise Sector'. He candidly stated, “We are planning to merge JMDC and NCJD to form a Jute Board, for which we have tabled a jute bill in parliament.”

He further added that a decision has already been taken by the Government for the revival of Kolkata-based National Jute Manufacturers Corp Ltd (NJMC) while the mills under the organization would also be revived through private-public partnership (PPP).

However, the cabinet committee is yet to approve the revival of these units through PP project in which the Government would have a 51 percent stake while the private companies would have 49 percent stake and control over the management.

Even the Board for Reconstruction of Public Sector Enterprises (BRPSE) has given a sanction to the revival plan of two mills in West Bengal – Kinnison and Khardah – and one in Bihar with the cooperation of a private sector partner at an estimated cost of Rs12.63 billion.

Giving his review on the performance of cotton exports, Textile Minister asserted saying, “Last year the export of cotton from India was very good and we expect to grow by 20 percent more in this fiscal”.

Coton production is anticipated to be around 30 million bales in this fiscal, up from 28 million bales procured last year. It was also disclosed that the Government would resurrect three defunct cotton mills in the state under the NTC.

While the Laxmi Narayan Cotton Mill and Sodepur Cotton Mill would be revived via joint venture route, NTC itself would revive the Aarti Cotton Mill. This decision is a part of the modified revival scheme of the Government for NTC at a cost of Rs52.67 billion.


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